Mortgage Killers

The following items make a borrower unlendable.  There are no "programs" to overcome these mortgage killers.

• Chapter 7 discharged less than 2 years ago (4 years for conventional mortgages)
• Foreclosure within the past 3 years (5 years for a conventional mortgage)
• Unsatisfied tax lien(s)
• Student loan collections (may be acceptable if on a payment plan with 12 consecutive on-time payments)
• Child support collections (may be acceptable if on a payment plan with 12 consecutive on-time payments)
• Car repossession with outstanding balance over $5000 (under $5000 - underwriter's discretion)
• Landlord collections not satisfied